Core Viewpoint - Yitong Technology (300211.SZ) reported a significant decline in its 2024 financial performance, leading to a warning of potential delisting due to negative net profits and revenue below 100 million yuan [1][4]. Financial Performance Summary - In 2024, Yitong Technology achieved operating revenue of 101 million yuan, a decrease of 44.41% year-on-year [1]. - The total profit for the year was -40.72 million yuan, down 480.10% from the previous year [1]. - The net profit attributable to shareholders was -38.86 million yuan, a decline of 6890.39% compared to the previous year [1]. Reasons for Performance Decline - The decline in performance is attributed to three main factors: 1. A significant drop in revenue from the subsidiary Hefei Whale Microelectronics due to decreased demand from major customers, leading to a substantial decline in gross profit [2]. 2. A reduction in network construction investment and equipment market demand from domestic broadcasting operators, along with a decrease in foreign customer orders, resulting in a sharp decline in revenue from CATV network transmission equipment [2]. 3. Increased R&D expenses due to the high upfront investment and long development cycle associated with chip products [2][3]. Subsidiary Performance - Hefei Whale achieved total revenue of 51.11 million yuan in 2024, with a gross profit of 17.40 million yuan [2]. - Revenue from PPG sensor modules was 30.89 million yuan, a decrease of 63.06% year-on-year, while revenue from AFE chips and ultra-low power IoT smart chips increased by 1405.75 million yuan [2]. R&D Investment - Hefei Whale's R&D expenses increased to 49.44 million yuan, a rise of 6.08% year-on-year [3]. - The net profit for Hefei Whale was -37.53 million yuan, a decline of 2301.59 million yuan compared to the previous year [3]. Corporate Governance - During the board meeting to review the annual report, one director abstained from voting, citing concerns that the adjusted operating revenue did not adequately reflect the company's actual and future business development [1][3]. Future Outlook - Yitong Technology anticipates that as new businesses enter their release phase, the main business will improve, and the company will take necessary measures to address current issues and enhance operational and financial conditions [5].
审议2024年年报相关议案时,亿通科技一董事投出弃权票